33m each are held by "key management personnel" (Browne & Riley)...

33m each are held by "key management personnel" (Browne & Riley) via, I think, Macquarie Finacials & Daptha Holdings. Top 20 holds 77.35%. Interesting that the rights issue is not underwritten but any shortfall will be alloted by discretion. Its's safe to say that the Board will be particpating and it looks a likely set up to backdoor perhaps a private company into the entity but it's also important to note that an enormous 501 shareholders hold an unmarketable parcel, bearing in mind that only 739 shareholders exist.

The old Tolhust's balance sheet and been cleaned up reasonably well and is in caretaker mode.

I like this one and certainly one to watch or participate in for those with a long term view. The record date is the 09/02/10 and new shares will begin trading on the 25/03/10.